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(ICIS) -- Spot prices of polymers in the
Middle East will likely remain weak for the rest of June, taking the cue from
China’s bearish market, industry players said on Wednesday. Polyethylene (PE)
and polypropylene (PP) values for June shipments are down USD 50-120/tonne (EUR
34-82/tonne) from May, according to ICIS data.
PP raffia prices tumbled for the third consecutive week after hitting a
10-month high, shedding USD120/tonne to USD 1.590-1.630/tonne DEL (delivered)
GCC (Gulf Cooperation Council) and USD 1.620-1.650/tonne DEL East Med
(Mediterranean), market sources said.
Meanwhile, prices of various linear low density PE (LLDPE) film, high
density PE (HDPE) film and low density PE (LDPE) film for June shipments fell
USD 50-70/tonne over the same three-week period, they said.
In China, polymer prices were much lower, with PP raffia at USD
1.530-1.590/tonne CFR China; LLDPE film at USD 1.230-1.280/tonne CFR China; HDPE
film at USD 1.330-1.350/tonne CFR China, and LDPE film at USD 1.530-1.580/tonne
CFR China, on Wednesday.
mrcplast.com
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